They say "Gandhi was
ahead of time" ...yes today his ideas on trusteeship , economics
,environment industrialisation , cottage industries , etc etc see taking shape
into conventions and legislations at international and national level
...!!!

Gandhian economics is
essentially the collection of Gandhi's thoughts on various economic systems.
Gandhi was not an economist and he didn’t propound any new economic theory. In
his time any discussion on economics was centered around two accepted economic
systems - Capitalism and Socialism. Both were rigid in their own terms and even
today there is no universally accepted economic system that can be uniformly
applied over space and time. Every region can have its characteristic economic
system which varies with time. One has to take in to account the prevalent
conditions; Socio-political, economic and educational status of the people;
comparative advantages and disadvantages of the regional economy etc.

Gandhi’s
thoughts on economic systems evolved over time and they incorporated the
good of both Capitalism and Socialism.

A
conservative may identify his views when he reads that Gandhi was against
the confiscation of private property.

Similarly
a liberal socialist identifies his views when he reads about
non-recognition of private property, social responsibility of those
possessing property etc.

Every
thought of Gandhi may not be relevant today but Gandhian economics is very
comprehensive to deal with many present day issues.

One
such issue is “Corporate Social Responsibility”, which can be traced to
Gandhi’s concept of “Trusteeship”.

Corporate Social Responsibility links Corporate
Sector to Social Sector.It is becoming more relevant in our society plagued by
increasing inequalities between haves and havenots. Corporate Social
Responsibility means that the corporate sector, which earns profit through the
sale of its goods and services in the society also has some responsibility
towards it.This is essential to promote growth with equity and to
achieve an inclusive society. Increasing number of industrial houses are taking
active interest in the welfare of the employees, their families and society at
large. Starting from the provision of basic necessities like drinking
water,primary education, health facilities to the development of environment
friendly technologies on regional/national or even international scale, they
are working in various spheres. In taking up few initiatives, some of them also
have enlightened self-interest in mind. They are not only able to advertise
their products but are also selling them to the beneficiaries of their activities.
Some of them are involved in the charity work like provision of mid day meals
to school children. Many of them have their own NGOs operating at ground
level,and in other cases they are involving the civil society in their
activities.

Reading Gandhi's concept
of trusteeship, we understand that he wanted capitalists to act as trustees
(not owners) of their property and conduct themselves in a socially responsible
way.

Quoting Jayant Pandya
from his "Gandhi and his Disciples"

"Believing as he did in non-violence,
Gandhi was against the physical liquidation of the capitalists and
landlords.Yet their exploitation had to end.This he believed could be done if
the landlords and the capitalists acted as trustees of the poor.His doctrine of
Trusteeship is designed to work in all spheres of life.Like parents acting as
trustees for their children,the government should act as trustees of those who
have choosen them to be their representatives in the legislative assemblies.
The trustee, by its implications,meant that he is not the owner.The owner is
one whose interest he is called upon to protect".

The philosophy of Trusteeship believes in
inherent goodness of human beings. It involves the capitalists and landlords in
the service of society without any element of coercion. It doesn’t want the
destruction of capitalists. Gandhi himself believed that their destruction
would result in the end of the workers.

---------------------------------------------------------------------------------------------------------------The new Company Bill recently passed in Parliament talks about Corporate Social Responsibility !!!!